FDI in UAE crossed AED1 trillion in 2016| MENAFN.COM

Friday, 30 September 2022 06:21 GMT

FDI in UAE crossed AED1 trillion in 2016


(MENAFN- Emirates News Agency (WAM))

DUBAI, 7th April, 2018 (WAM) -- The total of the Foreign Direct Investments, FDI, in the UAE increased to more than AED1 trillion by the end of 2016, an indication of economic robustness, the UAE Federal Competitiveness and Statistics Authority, FCSA, said.

According to the outcomes of a survey conducted by the FCSA, in association with local statistics authorities in the country, the value of inward direct investment made by non-resident investors in 2017, across the country, amounted to AED1.05 trillion by the end of 2016.

Investment inflow from the UK placed first with 16.5 percent of the total FDI followed by India with 5.5 percent, the USA with 4.3 percent, France 4.1 percent, and finally the KSA with 3.7 percent.

As for the economic activities that lured the FDI, wholesale and retail sector came on top with 24.9 percent of the total FDI, followed by the real estate industry with 23.8 percent, financial and insurance services placed third with 19.3 percent, then transformative industries with 9.2 percent and finally the mining and quarries took 8.8 percent.

The annual survey was designed as per the best international recommendations and methodologies issued by the World Bank, particularly the 6th edition of the International Monetary Fund's, IMF, Balance of Payments and International Investment Position Manual and the Detailed Benchmark Definition of Foreign Direct Investment of the United Nations Conference on Trade and Development, UNCTAD.

Mohammed Hassan Ahli, the Executive Director of Statistics and National Data at the FCSA, said that the support provided to the local bodies and the departments of statistics across the country, "Was very instrumental in making this survey a success, the outcomes of which are very important as they will be endorsed by the international trade and investment bodies and will be included in the world competitiveness reports and studies."

The FCSA is a UAE federal government entity created by the Presidential Decree No.6 for 2015 to strengthen and enhance the UAE's national data and competitiveness capacities.

WAM/Elsadig Idriss/Rasha Abubaker

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